Standard Life Healthcare, the medical cover arm of Standard Life, has introduced a new medical insurance option that will cut the costs of comprehensive cover.
The new Guided Option is available on almost all of the insurer’s products and will save customers about 15% off their policy. If combined with other Standard Life Healthcare features, such as its no claims discount and excess, the cost of its comprehensive cover could be reduced by as much as 55%.
The new option allows BUPA or Capio hospital to manage the patient’s treatment from beginning to end, including taking charge of all hospital arrangements and even choosing an appropriate consultant.
The Guided Option will be offered through the national network of 47 BUPA and Capio hospitals. However, patients are not obliged to undertake these services.
The new option is a response to research conducted by Standard Life Healthcare which states that customers now want this choice – 55% of those asked said they preferred the Guided Option referral route compared to the current referral process.
Stephen Walker, chairman of the Association of Medical Insurance Intermediaries, said: This is a positive move by Standard Life to address the affordability factor and offer more choice without compromising on benefits, making their policies more accessible at a time when medical insurance for many people is more of a necessity than ever before.